Investment and Incentive Code of Misamis Occidental Signed

The Hon. Governor Herminia M. Ramiro congratulated the Committee on Commerce, Trade and Industry and Labor and Employment of the Sangguniang Panlalawigan chaired by the Hon. Pablo Stephen C. Ty for the speedy crafting and enactment of the Investment and Incentive Code of Misamis Occidental. This remark was made during the Signing Ceremony of the Investment Code held in the afternoon of May 17, 2017 at the Sangguniang Panlalawigan Session Hall. The Code, which is intended to encouraged local and foreign investors to pour in capital into the province, was crafted and enacted in a record-time of less than two months. The Lady Governor mentioned that the Code was one of her priority concerns during her first and second terms but was realized only now that she is in her final term. She then said that the Code bodes for better times ahead for Misamisnons as the influx of investors to the province will open employment and livelihood opportunities for constituents. She also stressed the importance of peace and order as an important factor in order to entice investors to open business and industry thus speeding up economic development.

In her solidarity message, the Hon. Vice-Governor Aurora Virginia M. Almonte pointed out that the enactment of the Code was a joint official act of the legislative and executive branches of the Provincial Government which is a manifestation of the unity of purpose of the Governor and the Sangguniang Panlalawigan: the desire to uplift the lives of the people.

Hon. Pablo Stephen C. Ty in his overview of the Code stressed that the Code aims to encourage, attract, promote and welcome private local and foreign investments in enterprises that will boost sustainable development but at the same time take into account the responsible and lawful utilization of the available resources of and in the province. He also cited that the Code embodies provisions that offer fiscal and non-fiscal incentives, the mechanism for its implementation as well as the preferred investment priority areas compatible with the resources and manpower of the Province. He then stressed that the Code aims at fostering Corporate Social Responsibility. “We want to encourage business and industry to be responsive not only to socio-economic concerns but also to issues concerning the environment, culture and other facets of human life.”, he said.

The highlight of the ceremony was the signing of copies of the Code by Governor Herminia M. Ramiro and Vice-Governor Aurora Virginia M. Almonte. This was followed by the giving of certificates of appreciation to the members of the Technical Working Group coming from the government and private sectors who willingly shared their time and expertise in crafting the Code.

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